Form 8-K

8-K — SARATOGA INVESTMENT CORP.

Accession: 0001213900-26-085846

Filed: 2026-08-06

Period: 2026-08-05

CIK: 0001377936

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

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8-K — ea0300762-8k_saratoga.htm (Primary)

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8-K — CURRENT REPORT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):

August 5, 2026

SARATOGA INVESTMENT CORP.

(Exact Name of Registrant as Specified in Charter)

Maryland

814-00732

20-8700615

(State

or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS

Employer

Identification No.)

535 Madison Avenue

New York, New York

10022

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including

area code (212) 906-7800

Not Applicable

(Former Name or Former Address, if Changed Since

Last Report)

Check the appropriate box below if the Form 8-K filing is intended

to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction

A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.001 per share

SAR

New York Stock Exchange

6.00% Notes due 2027

SAT

New York Stock Exchange

8.00% Notes due 2027

SAJ

New York Stock Exchange

8.125% Notes due 2027

SAY

New York Stock Exchange

8.50% Notes due 2028

SAZ

New York Stock Exchange

7.50% Notes due 2031

SAV

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth

company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange

Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant

has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant

to Section 13(a) of the Exchange Act. ☐

Item 5.02 - Departure of Directors or Certain Officers; Election

of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 5, 2026, the Board of Directors (the

“Board”) of Saratoga Investment Corp. (the “Company”) increased the size of the Board from five to six members

and appointed Scott E. Zoellner as a director of the Company for a term expiring at the Company’s 2027 annual meeting of stockholders,

effective immediately. The Board also determined that Mr. Zoellner is not an “interested person” (as defined in Section 2(a)(19)

of the Investment Company Act of 1940, as amended) of the Company and is independent in accordance with the NYSE rules. The Board appointed

Mr. Zoellner to its audit committee, its compensation committee, and its nominating and corporate governance committee. There are no arrangements

or understandings between Mr. Zoellner and any other persons pursuant to which he was selected as a director, nor is there any family

relationship between Mr. Zoellner and any of the Company’s directors or executive officers. In addition, Mr. Zoellner

is not a party to any current or proposed transaction between the Company and Mr. Zoellner or his immediate family members that would

be required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Mr. Zoellner is a Partner and the Chief Operating

and Financial Officer of Niobrara Capital, a technology-oriented middle market private equity firm. At Niobrara Mr. Zoellner serves on

the investment committee, oversees the administrative and finance functions of the firm and leads all capital markets activities. Prior

to 2025, Mr. Zoellner was a Partner at AEA Investors LP for 21 years, serving as Chief Operating Officer and Group Head of the Private

Debt Group and a member of the Investment Committees for the firm’s junior capital and senior debt strategies. His responsibilities

included serving as an observer on several portfolio company boards. In 2022 Mr. Zoellner was named Head of Capital Markets for AEA Investors’

private equity groups. Prior to AEA, Mr. Zoellner was a Managing Director in Leveraged Finance Investment Banking at Credit Suisse (now

UBS). Mr. Zoellner received a B.A. in economics and political science from Trinity College and an M.B.A. from the NYU Stern School of

Business.

In connection with Mr. Zoellner’s appointment

to the Board, the Company and Mr. Zoellner entered into an indemnification agreement, a form of which is incorporated by reference

as an exhibit to the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission on May 5,

2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934,

the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SARATOGA INVESTMENT CORP.

Date: August 5, 2026

By:

/s/ Henri J. Steenkamp

Name:

Henri J. Steenkamp

Title:

Chief Financial Officer, Chief Compliance Officer, Treasurer and Secretary

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Entity Central Index Key

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Entity Tax Identification Number

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Entity Incorporation, State or Country Code

Entity Address, Address Line One

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Entity Address, City or Town

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6.00% Notes due 2027

Title of 12(b) Security

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Trading Symbol

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Title of 12(b) Security

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Trading Symbol

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8.50% Notes due 2028

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Trading Symbol

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7.50% Notes due 2031

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